GM Uzbekistan reduces car sales in Russia in January - July

GM Uzbekistan reduces car sales in Russia in January - July

Uzbekistan, Tashkent, Aug.21 /Trend D.Azizov/

JV GM Uzbekistan (formerly JSC UzDEUavto Asaka, Andijan region), sold 54,810 cars to Russia (the main export market of automobile) in January - July 2012, which is seven percent less compared to the same period last year, the Automobile Manufacturers Committee of the Association of European Business said.

Including 30,578 Nexia cars (decrease by 3 percent) and 19,971 Matiz minicars (decrease by 12 percent) were sold in Russia during January-July.

The Committee noted that GM Uzbekistan increased auto sales by 2 percent in July compared to July 2011 - up to 9,103 vehicles, including 5,907 Nexia cars (increase by 10 percent), and 3,196 - Matiz (decrease by 11 percent).

Nexia ranked 15th among the best sold cars, whilst Matiz was 21h in Russian market.

It was reported previously that GM Uzbekistan sold 92,778 cars in Russia in 2011, or 25 per cent more than the figure of the same period in 2010.

UzDaewooAuto was established in 1996 on a parity basis by the Uzbek government and South Korea's Daewoo Motor Company.

In 2005 Uzbekistan Daewoo bought shares in the joint venture. In 2007 Uzavtoprom and General Motors signed an agreement to establish a basis for the GM Uzbekistan plant with charter capital of $266.7 million. The American side owns 25 per cent of shares plus one share in the enterprise, with the possibility of increasing it to 40 per cent. Currently, 75 per cent of the shares belong to Uzavtoprom.

At present, JV GM Uzbekistan produces eight models of cars, four of which are the Chevrolet - Captiva, Epica and Spark. As it was reported, in February the company started manufacturing a new car model - sedan Chevrolet Malibu. Other models are released within the full-scale production.

The company increased production by 2.1 per cent in 2011 to 221,445 cars compared to 2010.

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